Berenson Acquisition I, a blank check company targeting the software or tech-enabled services sectors, filed on Friday with the SEC to raise up to $250 million.
The New York, NY-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Berenson Acquisition I would command a market value of $313 million.
The company is led by Chairman Jeffrey Berenson, a co-founder of merchant bank Berenson Holdings, and CEO and Director Mohammed Ansari, the President and Senior Managing Partner of Berenson. The company plans to target businesses in the software or technology-enabled services sectors, focusing on those with total enterprise values greater than $1 billion.
Berenson Acquisition I was founded in 2021 and plans to list on the NYSE under the symbol BACA.U. BofA Securities and Wells Fargo Securities are the joint bookrunners on the deal.
